interim

Karnataka HC grants interim stay on CCI probe against Amazon, Flipkart

In a major relief to e-commerce majors Amazon India and Flipkart, the Karnataka Large Court docket on Friday granted an interim remain on the Opposition Commission of India’s (CCI’s) buy of an investigation into some of the firms’ business techniques.

The buy was delivered by Justice P S Dinesh Kumar on a petition filed by Amazon, trying to find an interim remain on the CCI probe buy, right after hearing the make any difference about the earlier three days. The courtroom has granted the respondents 8 weeks to file a counter.

“While we welcome and regard the final decision of the Hon’ble Large Court docket of Karnataka, this is just a step in the authorized process. We are confident about our compliance,” Amazon mentioned on a assertion adhering to the HC buy.

Amazon experienced made CCI, the Delhi Vyapar Mahasangh (DVM) and Flipkart as respondents.

The CCI experienced purchased the

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IRCTC jumps 12.5% on strong Q3 nos; Co announces interim dividend of Rs 10

Indian Railway Catering and Tourism Corporation (IRCTC), the lately-outlined on-line ticketing, tourism and the catering arm of railways, jumped more than 12 for each cent on Thursday, a day just after the firm posted solid established of quantities for the quarter ended December 31, 2019.

At 09:28 am, the inventory was quoting around ten for each cent larger at Rs 1,559 apiece on the BSE. It strike a high of Rs 1,596.ninety five in the early trade in opposition to prior near of Rs 1,418.ninety five. In comparison, the S&P BSE Sensex was buying and selling .fourteen for each cent reduce at 41,508 stages.

For the quarter underneath evaluation, IRCTC posted a whopping 178 for each cent year-on-year (YoY) jump in its internet earnings at Rs 206 crore in opposition to Rs seventy four crore earnings in the corresponding quarter of the prior fiscal.

Full revenue throughout the period of

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